Zacks Research Has Strong Estimate for WPRT FY2024 Earnings

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Westport Fuel Systems in a research report issued to clients and investors on Tuesday, December 3rd. Zacks Research analyst L. Shahu now anticipates that the auto parts company will post earnings of ($1.74) per share for the year, up from their previous estimate of ($1.89). The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($1.74) per share. Zacks Research also issued estimates for Westport Fuel Systems’ Q4 2024 earnings at ($0.29) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.14) EPS, Q1 2026 earnings at ($0.19) EPS, Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.11) EPS and FY2026 earnings at ($0.59) EPS.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. The business had revenue of $66.25 million during the quarter, compared to analyst estimates of $66.88 million. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. During the same period last year, the business posted ($0.68) earnings per share.

WPRT has been the subject of several other research reports. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada restated a “sector perform” rating and set a $8.00 price target on shares of Westport Fuel Systems in a report on Thursday, November 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Westport Fuel Systems in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Westport Fuel Systems has an average rating of “Hold” and an average price target of $14.13.

Westport Fuel Systems Stock Performance

Shares of Westport Fuel Systems stock opened at $4.31 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.60 and a quick ratio of 1.00. The stock has a market capitalization of $74.41 million, a price-to-earnings ratio of -2.89 and a beta of 2.87. The business has a 50-day moving average of $4.33 and a 200 day moving average of $5.22. Westport Fuel Systems has a 12 month low of $3.91 and a 12 month high of $7.64.

Hedge Funds Weigh In On Westport Fuel Systems

Several large investors have recently bought and sold shares of WPRT. Renaissance Technologies LLC purchased a new stake in shares of Westport Fuel Systems during the 2nd quarter worth approximately $67,000. US Bancorp DE raised its stake in Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after acquiring an additional 118,780 shares in the last quarter. Finally, Grace & White Inc. NY lifted its position in Westport Fuel Systems by 19.0% in the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock valued at $3,416,000 after acquiring an additional 118,860 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.